Al Ahli Bank of Kuwait (ABK) said it is ready to open subscription for its capital increase after receiving the required regulatory approvals and completing preparations. The bank will issue 750 million shares, a 27.29% increase in its issued and paid-up capital.
The new shares are priced at 200 fils each, made up of 100 fils nominal value and a 100-fils share premium. The increase adds KWD 75 million to paid-up capital and KWD 75 million in share premium, for a total offering of KWD 150 million. Once the increase is complete, the bank's issued and paid-up capital will rise to KWD 349.86 million.
The offering is open to shareholders on the bank's register on the record date, Wednesday, November 4, 2026. Subscription opens on Sunday, November 8, and closes at 1:00 p.m. Kuwait time on Sunday, November 22.
The prospectus and all details of the offering are available on the websites of ABK, ABK Wealth Management and Boursa Kuwait. Applications are received online through the Kuwait Clearing Company's subscription platform, www.ipo.com.kw. ABK has appointed ABK Wealth Management as issue manager and subscription agent.
The offering comes as the bank finalizes its new five-year strategy for 2027-2031.
Talal Mohammad Reza Behbehani, Chairman of ABK Group, said: "The capital increase will strengthen our ability to support our new and ambitious five-year strategy and carry out the growth plans tied to it, while keeping appropriate capital buffers."
Behbehani said the proceeds will support the bank's plans to develop its digital capabilities, invest in technology infrastructure and expand its use of artificial intelligence. They will also fund the growth of its commercial banking business in the markets where it operates. He said he expects strong demand for the offering.
ABK's previous capital increase in 2023 drew subscriptions worth KWD 331.37 million, more than 3.3 times the KWD 100 million on offer.
The bank reported a net profit of KWD 54.2 million for the first nine months of 2026, up 16.2% on the same period a year earlier. Earnings per share were 17.6 fils, compared with 15 fils.
